FDIC

Acting Chairman of the Federal Deposit Insurance Corp. Martin Gruenberg said that the agency will continue to consider its rising assessment rates even as deposits fell in the second quarter

The Department of Justice's department of legal counsel said that the Federal Deposit Insurance Corp.'s board members can bring matters into consideration and vote, even without approval from the agency's chair. 

The Federal Deposit Insurance Corp. said that multiple nonsufficient-funds fees charged on the same transaction when consumers don't have enough money in their account could violate the Federal Trade Commission Act.

The Federal Deposit Insurance Corp. said its actions are "consistent with longstanding legal authorities to ensure that banks engaging in crypto-related activities are doing so in a safe and sound way that protects consumers."

Trade groups submitted a wide range of complaints to regulators throughout the Community Reinvestment Act's comment period, including concerns about the revamp's timeline and how the proposal would evaluate online banking activity.

The agency acknowledged that loan performance in the sector has been strong, but cited several reasons to think that might change, including rising interest rates, the effects of inflation and uncertainty about the future of work and commerce.

Banks and consumers can be harmed when cryptocurrency companies that offer digital assets as well as banks’ deposit products overstate the protections of federal deposit insurance, the agency says.

The Federal Reserve and Federal Deposit Insurance Corp. said the crypto firm’s response doesn’t “preclude us from taking any further action.” 

The Federal Deposit Insurance Corp., which protects customers in the event of certain types of bank failures, is looking into how the bankrupt digital-asset firm Voyager Digital marketed itself to customers, a spokesperson for the agency said.

A return of the Supervision Appeals Review Committee is a step backward for banks looking for an unbiased venue to challenge adverse regulatory rulings.

The Federal Deposit Insurance Corp. plans to increase assessment rates by 2 basis points for all insured depository institutions. Banks are expected to object to the hike as too much too soon.

Bank mergers, climate change and fintech rules are instrumental changes that the Center for American Progress is calling for Biden regulators to champion.

Jelena McWilliams is joining the firm following her high-profile exit from the Federal Deposit Insurance Corp.

Acting Comptroller of the Currency Michael Hsu lauded the agencies' unified Community Reinvestment Act proposal's focus on climate policies, while Federal Reserve Vice Chair Lael Brainard trumpeted the data-driven aspects of the proposal.

On the issue of large regional mergers, former FDIC heads Sheila Bair and Thomas Hoenig said that presuming banks with more than $100 billion of assets are systemically important is “regulatory overreach.”

Banking groups are concerned that their long-fought-for Office of Supervisory Appeals Committee was disbanded without public comment.

The Federal Deposit Insurance Corp. and the Consumer Financial Protection Bureau are taking steps to crack down on cryptocurrency and other fintech companies that improperly suggest their products have deposit insurance.

Sens. Elizabeth Warren and Bob Menendez say the banks that own the payments system "have chosen to let consumers suffer" from unchecked fraud problems.

Mutual institutions, long pillars of underserved communities, now face insurmountable barriers to entry.

The Federal Deposit Insurance Corp. is the second U.S. regulator to outline strategic planning and other steps banks with more than $100 billion of assets can take to minimize damage from severe weather events and the transition to a low-carbon economy.